A common criticism of Lean Thinking is that it is not aligned with traditional accounting practices, which means that can be a challenge to get organisationally influential financial managers to buy into the whole concept. Lean accounting was developed to recognise that if you are implementing lean, you’ll need an additional perspective on how you measure, control and account for your operations that can complement the established approaches. This article introduces Lean Accounting and sets the scene for its adoption in order to have an effective method to account for lean’s real impact.
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The concept of lifetime value is well founded in the sales and marketing field, where there has been a growing appreciation that it is cheaper and more profitable to maintain than gain and that a business needs to think over the long term regarding its customer relationships, rather than take a narrow, single transaction perspective. HP’s David Packard famously once stated that “marketing is too important to be left to the marketing department” implying that all employees are part-time marketers and so those in operations and service delivery also need to grasp the lifetime value concept and ensure that they play a role in nurturing customer relationships, so as to maximise both the return for the company and the value received by the customer.
This article first appeared on tenfold
It can be argued that the effectiveness of lean thinking in the workplace is ultimately due to individual behaviour and motivation – and on the critical habits that people form that are conducive to process thinking and continuous improvement.
In the article Prof Bill Lucas of the University of Winchester argues that if we can clearly articulate the range of habits which improvers need to have, and the knowledge and skills which will help them improve services, we can more precisely specify the learning required and the best learning methods, which will enable educators better understand the teaching and learning methods which best develop these habits.
Learning is undergoing some big changes and several educational commentators are predicting that the future of learning will be dramatically different, with peer to peer learning playing an increasingly important role.
This article discusses some key trends, defines peer to peer learning, lists its advantages and discusses participation options, highlighting the LCS Forum’s role in providing a digital space for the lean community.
Appreciative Inquiry (AI) is a well-established strength-based change approach with a proven track record. This article by a leading AI proponent and lean six sigma expert David Shaked outlines its key tenets and suggests that it can complement traditional lean methods, with the potential to create a more positive and sustainable context for continuous improvement. Note that a new AI resource area has been created in Resources/Lean Library (Related tab)
We stand on the brink of a technological revolution that will fundamentally alter the way we live, work and relate to one another.
The Financial Services industry has seen significant change over the past nine years with unprecedented threats, increased competition, economic and market instability. It has adopted Lean thinking, with varying degrees of success, to help it overcome these obstacles which has ushered in a new way of working.
But in 2017 the challenges remain and with statements like robotics can deliver “80% cost saves” commonly heard, it is no wonder many executives are examining how robotic process automation (RPA) can change the way they do business.
This raises the question: is this the end of Lean in Financial Services or can technological innovations such as RPA enable a revolution of the Lean approach?
“The trouble with us is that we’ve got no corporate memory.” I’ve heard this statement in various forms from a variety of different people I’ve worked with over the years. The starkest version came from a senior officer in a police force. He was referring to the fact that his...